Four-percent stakes bought in deepening airline partnerships
Grupo AeroMexico has confirmed that Delta Air Lines has paid it USD$65 million in return for a 4% stake. Delta had said it would buy a stake in Mexico’s biggest airline in 2011. The Mexican Federal Competition Commission approved the purchase. The move is part of Delta’s strategy to expand ties in emerging markets rather than North America or Europe.
Meanwhile, Etihad Airways confirmed today that it had bought a 3.96% stake in Virgin Australia Holdings. The United Arab Emirates’ national airline has built the stake steadily over recent weeks, through purchases on the open market. Between them, Etihad Airways and Virgin Australia operate 24 flights a week between Abu Dhabi and Australia (Etihad with 21, Virgin with three).